Alector (NASDAQ:ALEC) Stock Price Up 9%

Alector, Inc. (NASDAQ:ALEC) shares traded up 9% during mid-day trading on Thursday . The stock traded as high as $6.19 and last traded at $6.15. 486,905 shares were traded during mid-day trading, a decline of 22% from the average session volume of 626,811 shares. The stock had previously closed at $5.64.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a report on Tuesday. HC Wainwright reiterated a “buy” rating and set a $35.00 price target on shares of Alector in a research report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.67.

Alector Price Performance

The firm’s 50-day moving average is $5.51 and its 200 day moving average is $5.38. The stock has a market cap of $554.21 million, a price-to-earnings ratio of -4.17 and a beta of 0.68.

Alector (NASDAQ:ALEC) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. Alector had a negative net margin of 290.66% and a negative return on equity of 102.63%. The firm had revenue of $15.08 million for the quarter, compared to analyst estimates of $16.04 million. During the same quarter in the previous year, the business posted $0.02 EPS. On average, sell-side analysts forecast that Alector, Inc. will post -1.92 EPS for the current year.

Insiders Place Their Bets

In other Alector news, CFO Marc Grasso sold 7,297 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $35,609.36. Following the completion of the sale, the chief financial officer now owns 130,740 shares in the company, valued at approximately $638,011.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Paula Hammond sold 10,500 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $5.06, for a total value of $53,130.00. Following the completion of the sale, the director now owns 60,209 shares in the company, valued at $304,657.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marc Grasso sold 7,297 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $35,609.36. Following the completion of the transaction, the chief financial officer now directly owns 130,740 shares of the company’s stock, valued at approximately $638,011.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,222 shares of company stock worth $286,013. 9.10% of the stock is currently owned by company insiders.

Institutional Trading of Alector

A number of institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC raised its stake in shares of Alector by 73.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 92,218 shares of the company’s stock worth $419,000 after purchasing an additional 38,947 shares in the last quarter. Algert Global LLC acquired a new position in shares of Alector in the second quarter valued at approximately $198,000. Susquehanna Fundamental Investments LLC boosted its position in shares of Alector by 2.8% in the second quarter. Susquehanna Fundamental Investments LLC now owns 129,664 shares of the company’s stock valued at $589,000 after acquiring an additional 3,500 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Alector by 5.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 124,819 shares of the company’s stock worth $567,000 after purchasing an additional 6,825 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C increased its stake in Alector by 7.0% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,148,326 shares of the company’s stock worth $5,213,000 after acquiring an additional 75,481 shares during the period. 85.83% of the stock is currently owned by institutional investors.

Alector Company Profile

Alector, Inc, a clinical stage biopharmaceutical company, develops therapies for the treatment of neurodegeneration diseases. Its products include AL001, an immune activity in the brain with genetic links to multiple neurodegenerative disorders, which is in Phase III clinical trial for the treatment of frontotemporal dementia, Alzheimer's, Parkinson's, and amyotrophic lateral sclerosis diseases; and AL101 that is in Phase I clinical trial for the treatment of neurodegenerative diseases, including Alzheimer's and Parkinson's diseases.